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I’m going to focus on the short side on some of the Boxer Shorts list on some of the select stocks we have on that list to give you an idea what’s shaping up out there especially with today’s steep drop in the market.

Looking at Amazon.com (AMZN) a top may have formed between November and January, stock broke at the end of January, in the last two and a half weeks you can see that the stock has been meandering sideways in kind of a coil or bear flag, below the declining topsline inside the channel. Now the channel bottom says around 107, there is a gap around 110 but the immediate target is around 110, then 107, and if the gap is filled then all the way down to all the way down to the high 90s.

Greif Brothers (GEF) also broke a kind of head and shoulders top formation, broke down, worked its way slowly back up through the declining topsline and moving averages and with technicals being rather flat to negative. This one should roll over, take out 46 – 461/2 before it gets down to the 40 level, my secondary trading target.

Inverness Medical Innovations (IMA) breaking down as well, broke out of a wedge to the down side about a week ago and is now rolling over, looks like it could collapse. Trading targets on IMA are 37, 33 and then 30.

Polo Ralph Lauren (RL), a current portfolio position, broke down in early January and has been bouncing up slowly in a rising coil or bear wedge, resistance right at the this gap in the previous price resistance as well as the declining topsline. Today it dropped 1.09. This could be the beginning of a new decline taking it sharply lower. Looking for about 10 points down on Ralph Lauren.

Other stocks to view on Harry’s chart are ASM International (ASMI), C.H. Robinson Worldwide (CHRW), Ecolab (ECL), iShares MSCI Spain Index (EWP), Google (GOOG), Goldman Sachs, NewMarket Corp. (NEU), Perfect World Co. Ltd. (PWRD).

There’s some ideas for you on the short side in the coming days should the market extend its decline.